OnlineDomain coverage: ".VIP Makes $3.2 Million In Revenue In 5 Days Since Launch"

Minds + Machines Group Limited (LSE:MMX) > Recent News > OnlineDomain coverage: ".VIP Makes $3.2 Million In Revenue In 5 Days Since Launch"
onlinedomain-logoLeading domain name investment blog OnlineDomain today published an article entitled ".VIP Makes $3.2 Million In Revenue In 5 Days Since Launch". The blog's editor in chief, Konstantinos Zournas covered MMX's top-level domain .VIP's "record-breaking launch". .VIP entered General Availability at 1600hrs UTC on 17 May 2016. The article noted, "As of 1600hrs UTC on 22 May 2016, registrations taken by [MMX] had reached 203,720, .vip having been placed in the top 20 of new gTLDs within 5 days of launch, according to industry tracking site, See here an infographic detailing the first 24 hours of the .vip launch. By comparison, .xyz, the world’s leading new gTLD in terms of registrations, with 2.9 million current registrations, took some 21 days to reach an equivalent number of registrations when launched in June 2014." Mr Zournas quoted MMX CEO Toby Hall, "The Chinese market for top-level domains is real and we are delighted to have accessed this key region through the .vip launch. It is a major milestone for the Company, the new management team and our business model centred on working with best-in-class partners across every aspect of our business so as to best monetize our assets while maintaining a tight control on central overheads. It demonstrates that, when properly executed, how quickly the initial investment costs for a domain can be recovered and the potential for a strong recurring revenue established. The .vip launch equally illustrates how as a b2b business we do not have to burn funds on marketing to reach end-consumers and achieve outstanding results. Not only is .vip creating an exceptional platform through which to grow our presence in the expanding Asia market, it is providing an excellent template on how best to reach end-markets that can be potentially mirrored across our portfolio." The article goes on to quote MMX Chairman Guy Elliott, "“The launch of .vip has been nothing short of extraordinary. We now have a pure-play registry Group set up to be able to operate across the three main global regions ” the Americas, Europe and Asia ” and a coherent strategy for growing revenue whilst operating off a dramatically reduced cost-base going forward. The transformation of the Group can be no better underlined than through the performance of .vip at launch.". Read the full article at
Minds + Machines Group Limited